Energy Forecast: Oil Prices Poised to Again Test Record Levels in 2011
But that 13% advance is just the beginning.
Crude oil prices are poised to again break the psychologically important $100 a barrel mark in a bid to move higher throughout 2011 and 2012, and some forecasters are calling for prices to zoom by as much as 65% from here.
If that happens, crude oil would approach - or possibly even eclipse - the all-time high of $147 a barrel, a price not seen since the summertime speculative frenzy of 2008.
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